Josh44s:


Who China and Japan come dey owe

I don't know. But they are big debtors too just like the United States and United Kingdom.

Olawalesmarter:


Nairaland is full of Ignorant fools and illiterates, it is very hard to see a sensible comment on Nairaland, reading comments on Nairaland Usually irritate me and the funniest thing is that they all think they are making sense and they know better when in Reality they are just showing their stupidity, ignorance, Hatred and illiteracy. USA owe China Trillion of Dollars, the total Amount of Money the top ten countries owe China is not even up to 100 Billions and they started Wailing and Calling their Country and Continent all sort of names, if you are insulting your country and you are crying because your country owe China 4.5 billion dollars that a single person can pay off in Nigeria, then what should USA Citizens call their country for owing China Trillions of Dollars? . 70% of Nigerians are just ignorant and Educated illiterates

A million likes for you

nograv:


It doesn't need to, as long as the possibility of default is remote.

Nigeria by comparison is nowhere near as solvent. A decade long slump in oil prices would be enough to tip the Nigerian economy into crisis.

That is the difference. I think you fell asleep in economics class..

you no little about her debt

if i may ask, which country has the highest debt in the world
if you dont know, it is the USA, with abouth 19 trillion USD you may take your time to do the research,
but i doubt you will. since all your family and unborn generation are to useless tomake researches.

OyinO:

Shame! Where you are in the list don't really matter. What matters is that you have been sold out long ago. You are bought and owned. plus all your resources and unborn generations.

Olawalesmarter:


Those Companies you listed are having a Bad time, and they are clearly not going to be able to pay 22trillion dollars USA debt
https://www.google.com/amp/s/amp.businessinsider.com/facebook-apple-amazon-netflix-google-lose-value-of-saudi-arabia-2018-11

That is irrelevant... Even the mere perception of being able to finance the debt is enough. Hence why a US gov bond offering will still be more popular than a Nigerian one...

Also you haven’t acknowledged that debt is far cheaper for the US as it has a better credit rating than Nigeria.. This again reflects investor confidence on the likelihood of a US default vis a vis a Nigerian one.

You can argue as much as you like, at the end of the day no one wants to get into Nigeria to live, whereas millions want to immigrate to the US...

Even look at China a recently industrialised country, how much debt does China have?? You remind why Nigeria is poor, the leadership is a reflection of an ignorant population...

Thank god I have the option to live in the west...

WinningSun:


you no little about her debt

Please enlighten me on what I don’t know...

BluntBoy:


I expected that you would shift the goalpost and you didn't disappoint me.

What is your level of education? Because you do understand the macro economic profile of country including its productive industries plays a huge part in its credit rating and cost of borrowing?

Please tell me why does Nigeria have a worse credit rating than the US? Why is debt cheaper for the US?

Economic growth is a key factor is determining a nation’s credit rating, this is based on the performance of industry in that country. America has some world leading companies driving economic growth. This factor is very much part of the conversation on debt and credit ratings...

Mtchew Nigerians my people their own worst enemies...

nograv:


That is irrelevant... Even the mere perception of being able to finance the debt is enough. Hence why a US gov bond offering will still be more popular than a Nigerian one...

Also you haven’t acknowledged that debt is far cheaper for the US as it has a better credit rating than Nigeria.. This again reflects investor confidence on the likelihood of a US default vis a vis a Nigerian one.

You can argue as much as you like, at the end of the day no one wants to get into Nigeria to live, whereas millions want to immigrate to the US...

Even look at China a recently industrialised country, how much debt does China have?? You remind why Nigeria is poor, the leadership is a reflection of an ignorant population...

Thank god I have the option to live in the west...

We are talking about another thing and you change the arguement to another thing, I also have the option to live in the west but i am not going to because i don't have any business there. USA is going to have a Hell of a time paying off their Debt more than Nigeria and that's fact and that's what we are talking about. It has even been predicted that USA is likely to enter Recession this year. Nigeria is not an Industrialize Country but the only difference is that we are not taking more than we can chew, where as an Industrilize country like USA is taking more than they can Chew, imagine having a debt greater than what they can produce in a whole year. You are talking about Credit Rating tell me who is in charge of the credit Rating? Africa is clearly not in charge of the Credit Rating and don't expect them to rate us more than them.

Olawalesmarter:


We are talking about another thing and you change the arguement to another thing, I also have the option to live in the west but i am not going to because i don't have any business there. USA is going to have a Hell of a time paying off their Debt more than Nigeria and that's fact and that's what we are talking about. It has even been predicted that USA is likely to enter Recession this year. Nigeria is not an Industrialize Country but the only difference is that we are not taking more than we can chew, where as an Industrilize country like USA is taking more than they can Chew, imagine having a debt greater than what they can produce in a whole year. You are talking about Credit Rating tell me who is in charge of the credit Rating? Africa is clearly not in charge of the Credit Rating and don't expect them to rate us more than them.

See the post I wrote to bluntboy

re supposedly changing the subject

What is your level of education? Because you do understand the macro economic profile of country including its productive industries plays a huge part in its credit rating and cost of borrowing?

Please tell me why does Nigeria have a worse credit rating than the US? Why is debt cheaper for the US?

Economic growth is a key factor is determining a nation’s credit rating, this is based on the performance of industry in that country. America has some world leading companies driving economic growth. This factor is very much part of the conversation on debt and credit ratings...

BluntBoy:


I don't know. But they are big debtors too just like the United States and United Kingdom.

China doesn't owe USA any money, In fact Experts have said China can crash USA economy if they wanted to

Olawalesmarter:


China doesn't owe USA any money, In fact Experts have said China can crash USA economy if they wanted to

I wrote that I didn't know who they are owing.

However, they are also in debts too. In fact, they are huge debtors like USA and the UK.

nograv:


See the post I wrote to bluntboy

re supposedly changing the subject

Bro, your original post showed that you were wondering why Nigeria earned so much and is still in debts and I quoted you to let you know that even high earners like the United States and the United Kingdom owe debts as well. As a matter of fact, even the United States owe China a substantial debt.

The argument is not about which country has a better chance of cancelling her debts.

Don't shift the goalpost any further. It would amount to a waste of our time.

nograv:


What is your level of education? Because you do understand the macro economic profile of country including its productive industries plays a huge part in its credit rating and cost of borrowing?

Please tell me why does Nigeria have a worse credit rating than the US? Why is debt cheaper for the US?

Economic growth is a key factor is determining a nation’s credit rating, this is based on the performance of industry in that country. America has some world leading companies driving economic growth. This factor is very much part of the conversation on debt and credit ratings...

Mtchew Nigerians my people their own worst enemies...

Here was your first reaction to the topic:

How can Nigeria a country thats earns 10s of billions a year from oil sales be in debt at all?

This was the post I reacted to by informing you that even the United States and the United Kingdom owed debts.

You immediately went on to start shifting the goalpost.

If you wanted to discuss economics, you shouldn't have started with that ignorant post.

BluntBoy:



Here was your first reaction to the topic:



This was the post I reacted to by informing you that even the United States and the United Kingdom owed debts.

You immediately went on to start shifting the goalpost.

If you wanted to discuss economics, you shouldn't have started with that ignorant post.

National Debt is economics..

I noticed you have avoided my main points altogether..

Two posts and you have managed to say nothing...

Finally credit ratings and ability to pay your debt has nothing to do with it being written off..

You along with the other poster make me lose heart with Nigeria. You will argue until you cant draw anymore breath even when you are wrong and dont know enough about the subject matter...

Bros go back to school..

nograv:


National Debt is economics..

I noticed you have avoided my main points altogether..

Two posts and you have managed to say nothing...

Finally credit ratings and ability to pay your debt has nothing to do with it being written off..

You along with the other poster make me lose heart with Nigeria. You will argue until you cant draw anymore breath even when you are wrong and dont know enough about the subject matter...

Bros go back to school..

Nawa for you o.

You ignorantly wrote that Nigeria was earning a lot and oughtn't be owing. This passed you off as someone who knew virtually nothing about national debts. I informed you that even the United States and the United Kingdom were owing as well.

Every other thing you have been writing since then means nothing to me since your first post already exposed your limited knowledge of national debt.

If you want to expand the argument, then you should explain why you made your first post that Nigeria shouldn't be owing because of her huge revenue inflow from oil.

BluntBoy:


Nawa for you o.

You ignorantly wrote that Nigeria was earning a lot and oughtn't be owing. This passed you off as someone who knew virtually nothing about national debts. I informed you that even the United States and the United Kingdom were owing as well.

Every other thing you have been writing since then means nothing to me since your first post already exposed your limited knowledge of national debt.

If you want to expand the argument, then you should explain why you made your first post that Nigeria shouldn't be owing because of her huge revenue inflow from oil.

I am done here..

I have already made points which you have ignored because you probably did not understand them...

You havent exposed anything..

I will ask you again why does Nigeria have a lower credit rating than US or UK?

Why is credit cheaper for the latter countries than Nigeria?

With significant export earnings from the sale of oil, why does Nigeria need to borrow at all?

Stating that the US or UK has significant debt is not an argument. Especially given that they are developed countries with diversified economies that still show strong overall economic growth. That growth plays into credit ratings and a lower cost of borrowing for these countries.

If you can address the above questions then we can continue. Otherwise I cannot continue to argue with someone who doesnt seem to grasp basic economic concepts..

Have a good day..

nograv:


I am done here..

I have already made points which you have ignored because you probably did not understand them...

You havent exposed anything..

I will ask you again why does Nigeria have a lower credit rating than US or UK?

Why is credit cheaper for the latter countries than Nigeria?

With significant export earnings from the sale of oil, why does Nigeria need to borrow at all?

Stating that the US or UK has significant debt is not an argument. Especially given that they are developed countries with diversified economies that still show strong overall economic growth. That growth plays into credit ratings and a lower cost of borrowing for these countries.

If you can address the above questions then we can continue. Otherwise I cannot continue to argue with someone who doesnt seem to grasp basic economic concepts..


Have a good day..

You are being very insincere. You goofed by wondering why Nigeria was in debt.

Why would anyone wonder why a country was in debt. Instead of trying to play smart with me, why not explain what made you to be surprised that Nigeria was ever in debt? You were thinking of national debt as something individual. That was why you were wondering why Nigeria was making so much and yet borrowing.

The truth is that you have no idea why countries borrow. Case closed.

BluntBoy:


You are being very insincere. You goofed by wondering why Nigeria was in debt.

Why would anyone wonder why a country was in debt. Instead of trying to play smart with me, why not explain what made you to be surprised that Nigeria was ever in debt? You were thinking of national debt as something individual. That was why you were wondering why Nigeria was making so much and yet borrowing.

The truth is that you have no idea why countries borrow. Case closed.

No I am asking you these questions, in an effort to get you to understand why your thinking is wrong.

That sadly has proven beyond your ability..

I realise you are unfortunately not very bright, yet you think that you are..

You obviously dont know anything about credit rating agencies like Moodys, Fitch and Standard and Poors. Nor do you understand their function, that much is clear...

You also do not understand how a credit rating for a nation is derived. You do not understand a credit rating can apply to a person and a nation.

UK S&P rating AA
US S&P rating AA+
Nigeria S&P rating B

Source TradingEconomics.com

This means that Nigeria needs pay more in terms of interest rates to borrow. Another reason why we shouldnt borrow unless we have exhausted all other options.

Also a lower credit rating means that external bodies view Nigeria as less credit worthy than the UK or US (despite their large debts). Why? because investors are correct in knowing that the US and UK are less likely to default due to their stronger and more developed economies amongst other factors..

Finally you do understand that oil exports earn money be it indirectly via taxes and duty?

Or if Nigeria had a state owned oil producer like Malaysian Petronas it would make money directly from oil sales?

Nigeria makes billions from oil sales from per annum. That money does not fill national coffers due to economic mismanagement and corruption. The last estimate I saw in London revealed that 1 trillion USD of revenue had slipped through government hands since independence with little or nothing to show for it.

With 1 trillion USD in revenue from Oil alone, excluding other tax paying commercial industries you SHOULDNT NEED TO BORROW!!! NO IFS NO BUTS JUST NO..

Bros, I am actually British Nigerian and I work in investment banking in London. I do this for a living and I am respected in my field..

I am doing my best not to abuse you, as a people we can only move forward if we learn to work together..

But you are trying my patience.. You dont know how to discuss complex issues and yet proudly state case closed when you havent made a valid point..

nograv:


No I am asking you these questions, in an effort to get you to understand why your thinking is wrong.

That sadly has proven beyond your ability..

I realise you are unfortunately not very bright, yet you think that you are..

You obviously dont know anything about credit rating agencies like Moodys, Fitch and Standard and Poors. Nor do you understand their function, that much is clear...

You also do not understand how a credit rating for a nation is derived. You do not understand a credit rating can apply to a person and a nation.

UK S&P rating AA
US S&P rating AA+
Nigeria S&P rating B

Source TradingEconomics.com

This means that Nigeria needs pay more in terms of interest rates to borrow. Another reason why we shouldnt borrow unless we have exhausted all other options.

Also a lower credit rating means that external bodies view Nigeria as less credit worthy than the UK or US (despite their large debts). Why? because investors are correct in knowing that the US and UK are less likely to default due to their stronger and more developed economies amongst other factors..

Finally you do understand that oil exports earn money be it indirectly via taxes and duty?

Or if Nigeria had a state owned oil producer like Malaysian Petronas it would make money directly from oil sales?

Nigeria makes billions from oil sales from per annum. That money does not fill national coffers due to economic mismanagement and corruption. The last estimate I saw in London revealed that 1 trillion USD of revenue had slipped through government hands since independence with little or nothing to show for it.

With 1 trillion USD in revenue from Oil alone, excluding other tax paying commercial industries you SHOULDNT NEED TO BORROW!!! NO IFS NO BUTS JUST NO..

Bros, I am actually British Nigerian and I work in investment banking in London. I do this for a living and I am respected in my field..

I am doing my best not to abuse you, as a people we can only move forward if we learn to work together..

But you are trying my patience.. You dont know how to discuss complex issues and yet proudly state case closed when you havent made a valid point..

OK, let us expose your stupidity once and for all, Oga British Nigerian

Supposing we had combated corruption and become as industrialized as Japan, we wouldn't need to borrow, not so, Oga British Nigerian?

But how come Japan and China (with her zero tolerance for corruption) are still borrowing.

You don't understand why countries borrow, so just shut up instead of getting yourself into messier and much more needlessly complicated matters of misappropriation.

Supposing our revenue inflows are perfectly and transparently managed, we would be like Japan, at best. But Japan still borrows. So, what is your point?

You think we can avoid debts if we put our house in order but how can you explain Japan borrowing?

BluntBoy:


OK, let us expose your stupidity once and for all, Oga British Nigerian

Supposing we had combated corruption and become as industrialized as Japan, we wouldn't need to borrow, not so, Oga British Nigerian?

But how come Japan and China (with her zero tolerance for corruption) are still borrowing.

You don't understand why countries borrow, so just shut up instead of getting yourself into messier and much more needlessly complicated matters of misappropriation.

Supposing our revenue inflows are perfectly and transparently managed, we would be like Japan, at best. But Japan still borrows. So, what is your point?

You think we can avoid debts if we put our house in order but how can you explain Japan borrowing?

I have tried to be reasonable with you.

Your last post was all over the place..

You sir are the exact reason why Nigeria looks the way it does.

You havent addressed any of my points yet you think we are debating?

You state I dont understand why nations borrow, without giving your own explanation of why they do..??


You moan about moving goal posts and now you are talking about China and Japan

Japan and China are relatively resource poor, they dont earn billions from merely extracting primary resources as Nigeria does..

You are a par excellence example of the product of a failed system..

You arent educated, yet you weigh in on subjects that you dont have a good grasp of..

I wont bother responding anymore. You have exhausted my patience..

nograv:


I have tried to be reasonable with you.

Your last post was all over the place..

You sir are the exact reason why Nigeria looks the way it does.

You havent addressed any of my points yet you think we are debating?

You state I dont understand why nations borrow, without giving your own explanation of why they do..

You moan about moving goal posts and now you are talking about China and Japan

You are a par excellence example of the product of a failed system..

You arent educated, yet you weigh in on subjects that you dont have a good grasp of..

I wont bother responding anymore. You have exhausted my patience..

I decided to play your game.

You said Nigeria oughtn't be borrowing money if only she managed her resources very well.

So, I told you that if it were that straightforward, Japan wouldn't need to be borrowing as well since we all know Japan fares better on the corruption index than Nigeria.

Jaguntemmy:
if i may ask, which country has the highest debt in the world
if you dont know, it is the USA, with abouth 19 trillion USD you may take your time to do the research,
but i doubt you will. since all your family and unborn generation are to useless tomake researches.

The USA can use any means possible to relieve herself from such debts. But your own case is quite different. You'll be dreaming and begging for Debt Relief or Pardon in vain. So don't compare your useless country with USA. I already know that the USA is heavily indebted to China. That's a popular news that doesn't need research work or thesis. I can see you copied and pasted your Project Research work.

OyinO:

The USA can use any means possible to relieve herself from such debts. But your own case is quite different. You'll be dreaming and begging for Debt Relief or Pardon in vain. So don't compare your useless country with USA. I already know that the USA is heavily indebted to China. That's a popular news that doesn't need research work or thesis. I can see you copied and pasted your Project Research work.

I don't know if you read my earlier posts. A lot of these folks don't know much about economics. It is all quite depressing really as it highlights why Nigeria looks the way it does.

An uneducated economically illiterate population can easily be fooled. Hence why you have people arguing that debt isn't problematic

The crazy thing is that the US has way more debt as a percentage of its GDP than Nigeria, but investors still regard the US as being more credit worthy than Nigeria. They still offer lower interest rates on loans to the US government than the Nigerian one and that alone tells you everything you need to know..

Every time I think of coming back to Nigeria, threads like this one remind me of why I am being naïve..

Some of you are new to this kind of news.

Google IMF to see what they did to countries around the world.

Difference between Chinese loan and imf loan is the method. Chinese give loan via infrastructures while imf give loan via cash and policies. That of imf is easily stolen while that of Chinese can be traced.

themosthigh:
I know that in a few years time, most of Africa will be a barren indebted wasteland. Our leaders know this and just collect money from anyone knowing fully well that they can’t pay back. They use this money to invest abroad, send their children there to become citizens while other people’s kids remain in Nigeria. Most children of are leaders have dual citizenships. Most have houses in rich countries. If you can, migrate now or you will be one of those who will be suffering in the future.

BluntBoy:


I decided to play your game.

You said Nigeria oughtn't be borrowing money if only she managed her resources very well.

So, I told you that if it were that straightforward, Japan wouldn't need to be borrowing as well since we all know Japan fares better on the corruption index than Nigeria.

Better to remain silent and be thought a fool than to speak and to remove all doubt Abraham Lincoln

We actually pay using crude oil

Originalsly:
Wow!....Angola #1 with $25B..... hmmmm.....but $60B not enough to fix our power supply.
Why should Nigeria be owing when we have the resources they want?....why should most of the countries be owing when they have what China wants? African leaders....always signing bad contracts and the locals be shouting good development.

If you know this why do you wail then
When funds are used properly we gave development

OyinO:

The USA can use any means possible to relieve herself from such debts. But your own case is quite different. You'll be dreaming and begging for Debt Relief or Pardon in vain. So don't compare your useless country with USA. I already know that the USA is heavily indebted to China. That's a popular news that doesn't need research work or thesis. I can see you copied and pasted your Project Research work.

nograv:


Better to remain silent and be thought a fool than to speak and to remove all doubt Abraham Lincoln

Well, that saying applies to you, not me.

nograv:


I don't know if you read my earlier posts. A lot of these folks don't know much about economics. It is all quite depressing really as it highlights why Nigeria looks the way it does.

An uneducated economically illiterate population can easily be fooled. Hence why you have people arguing that debt isn't problematic

The crazy thing is that the US has way more debt as a percentage of its GDP than Nigeria, but investors still regard the US as being more credit worthy than Nigeria. They still offer lower interest rates on loans to the US government than the Nigerian one and that alone tells you everything you need to know..

Every time I think of coming back to Nigeria, threads like this one remind me of why I am being naïve..

You have said nothing but rather, tried in vain to show you're the better man living abroad. We know what folks go through there. Nonsense an ingredient!

nograv:


I don't know if you read my earlier posts. A lot of these folks don't know much about economics. It is all quite depressing really as it highlights why Nigeria looks the way it does.

An uneducated economically illiterate population can easily be fooled. Hence why you have people arguing that debt isn't problematic

The crazy thing is that the US has way more debt as a percentage of its GDP than Nigeria, but investors still regard the US as being more credit worthy than Nigeria. They still offer lower interest rates on loans to the US government than the Nigerian one and that alone tells you everything you need to know..

Every time I think of coming back to Nigeria, threads like this one remind me of why I am being naïve..

You have said nothing. You have only succeeded in telling us that you're living in the US. But we already know what folks like you pass through in that part of the globe. Your vain pride and ego still shows who you really are.

BluntBoy:


Well, that saying applies to you, not me.

How many likes have you got for your posts vs me...

mumu

OyinO:

You have said nothing. You have only succeeded in telling us that you're living in the US. But we already know what folks like you pass through in that part of the globe. Your vain pride and ego still shows who you really are.

You need to take that chip off your shoulder...

Naija people and jealously sha..

So I point out Economics is my bread and butter, that means I am showing ego...

Mtcheww Mumu...

Sharrap...